ConocoPhillips Makes China Oil Leak Deal

ConocoPhillips (NYSE:COP) has decided to pay $267 million as compensation for various oil leaks in China.

ConocoPhillips Makes China Oil Leak Deal

Houston, Texas based multinational energy corporation, ConocoPhillips (NYSE:COP) along with its partner, China National Offshore Oil Corp, has decided to pay a sum of 1.68 billion yuan ($267 million) as compensation for an oil spill which occurred at Bohai Bay.

As per various reports, ConocoPhillips (NYSE:COP) China will pay 1.09 billion yuan from the compensation amount and the rest will be paid by China National Offshore Oil Corp.

ConocoPhillips (NYSE:COP) shares were at 71.98 at the end of the last day’s trading. There’s been a 3.7% change in the stock price over the past 3 months.

ConocoPhillips (NYSE:COP) Analyst Advice
Consensus Opinion: Hold
Mean recommendation: Error
(1=Strong Buy, 5=Strong Sell)
3 Months Ago: Error
Zack’s Rank: 1 out of 7 in the industry